Leading sportsbook provider Altenar plans to further expand its presence in regulated markets after becoming licensed by the UK’s Gambling Commission.
As well as obtaining a gambling software license, the company has also been granted host licenses for real and virtual sports. The combination of authorisations will allow it to offer both its software-only package and its fully managed sports betting platform to UK operators.
Stanislav Silin, CEO at Altenar, said that although the licensing process was extensive and took longer than anticipated, it was an essential step for the company.
“The UK market has set the standard for other regions. It has a very solid regulatory framework, which independently licenses suppliers and operators and therefore gives confidence to all participants in the ecosystem that services are of a certain quality, standard and robustness.
“We are proud to have been granted a license in such an important market. Some of the world’s largest bookmakers came out of this environment and it continues to be one of the most significant in the global gaming landscape.”
The company is now in discussions with a number of potential UK clients. “The UK market is undoubtedly very competitive and demanding, but we believe there is room for a sportsbook provider with state-of-the-art software, 24/7 risk management, trading and business support, and a strategy of acting not just as a provider but also as a business consultant to our clients,” commented Silin.
This is the third license for Altenar. The company obtained a B2B license from the Malta Gaming Authority (MGA) in April this year, as well as one from Romania’s Oficiul National pentru Jocuri de Noroc (ONJN) in September 2018.
Its latest move reaffirms the company’s commitment to regulated markets. Along with a strategy of applying for B2B licenses in jurisdictions where these are available, it also works closely with regulated operators in markets where these are not required.
Altenar recently launched its first client in the newly regulated Swedish market, with LuckyCasino.com going live with its sportsbook in late May. It also provides the software platform for Wplay.co, which was the first operator to be granted a license in the regulated Colombian market in 2017.
“We see the global gaming market as moving firmly in the direction of more regions becoming regulated,” said Silin.
“Between our MGA, ONJN and Gambling Commission supplier licenses, as well as very recent successful test house approvals of our software and operational practices in Spain and Sweden, we are well on our way to expanding our customer portfolio with more operators that value sound business practices and regulated gaming.”